Scoliosis Management Market Future Forecasts, Growth Rate, And Industry Analysis To 2032
The scoliosis management market is likely to record a CAGR of 3.9% during the forecast period, up from US$ 2,942.8 Mn in 2022 to reach a valuation of US$ 4,489.0 Mn by 2032.
Scoliosis is a medical disorder causing deformities in spine especially sideway curvature forming S or C shape in the spinal region. Scoliosis generally occurs during the pre-puberty phase. The major cause of scoliosis is primarily due to disorders such as muscular dystrophy and cerebral palsy, and are most common causative conditions, and other cause of scoliosis is still unknown. In early cases, scoliosis is minor, however if untreated or unresolved may lead to severe deformities. Scoliosis results in reducing space within chest cavity, thus, causes difficulties in the proper functioning of lungs. The other factors such as environmental factors and genetic factors can also cause scoliosis. In addition, scoliosis management consists of complex procedures for correcting the shape of the spine and management steps are selected based on the level of severity of the disorder and bone maturity coupled with the degree of progression of scoliosis which may differ in males and females. For scoliosis management, braces, physical therapies such as exercise, self-care, and leisure, alternative medicines, and surgeries are often used.
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Scoliosis Management Market: Drivers and Restraints
The scoliosis management market growth is mainly driven by the increasing prevalence of scoliosis in the global population. For instance, according to the estimates of National Scoliosis Foundation (NSF), approximately 2–3% of the population is suffering from scoliosis in U.S. alone with estimates of six to nine million people. In addition, nearly 600,000 patient visits to private facilities, more than 30,000 adolescents using braces, and approximately 38,000 patients have undergone spinal fusion surgeries. All these factors are responsible for driving the overall growth of the scoliosis management market. However, the factors such as high cost of treatment or procedures can impede the market growth. Moreover, other factors such as lack of skilled professionals, unfavorable reimbursement policies, and limited understanding of the disorder and available treatment options are also hampering the overall growth of scoliosis management market.
Scoliosis Management Market: Overview
Scoliosis management market is expected to show a tremendous growth during the forecast period. Scoliosis is mainly diagnosed by using X-ray technology and aids in the calculation of a degree of curvature. Scoliosis management is based on the degree or pattern of curvature of the spine, age, type of scoliosis, and level of progression. In early cases of scoliosis, observation is done for a time period of 4 -5 months. Scoliosis is a common medical condition of spine in adolescents and creates an ample opportunity for market participants to invest in scoliosis management owing to the fact that scoliosis has high prevalence and incidence rate in the overall population, resulting in demand for better treatment and management options.
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Scoliosis Management Market: Region Wise Outlook
Geographically, global scoliosis management market can be segmented as North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa. North America is expected to hold the largest market share followed by Western Europe owing to the factors such as the presence of more sophisticated healthcare infrastructure, increasing awareness among the population and higher prevalence. In addition, other factors such as high R&D expenditure by governmental bodies, and availability of favorable reimbursement policies in these regions boosts the overall growth of scoliosis management market. The market in Asia-Pacific excluding Japan region is estimated to grow at fastest CAGR over the forecast period owing to increasing healthcare expenditure, and easy availability of management options. Moreover, consistent technological advancement and product launches in this region also boosts the growth of scoliosis management market. However, the regions such as Latin America and Middle East and Africa show a stagnant growth during the forecast year owing to the dearth of skilled personnel and low per capita healthcare expenditure in these regions, apart from lack of awareness about the disease.
Scoliosis Management Market: Key Players
Some of the market participants in the global scoliosis management market are Boston Orthotics & Prosthetics, Chaneco, Original Bending Brace, Orthotech, Trulife, L.A. Brace, Össur, DJO, LLC, Wilmington Orthotics & Prosthetics, Inc., Lawall Prosthetics and Orthotics, Horton’s Orthotics & Prosthetics, Aspen Medical Products, UNYQ, C H Martin Company, Optec USA, Inc., Spinal Technology, Inc., Ortholutions GmbH & Co. KG, Wellinks, Inc., and Pro-Tech Orthopedics.
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